Ribomic announced that it has signed a license agreement with Korean pharmaceutical company AJU Pharm Co. for RBM-007 for the indication of the exudative age-related macular degeneration (AMD) in the territory of Korea and Southeast Asia (Singapore, Philippines, Thailand, Vietnam, Indonesia, Malaysia, Cambodia and Myanmar). Upon execution of this agreement, AJU will obtain the exclusive license to develop and sell the product containing RBM-007 in the territory, according to a company news release.
Ribomic will receive an upfront payment of $1 million and is eligible for potential development milestone payments of up to $5 million. In addition, Ribomic will supply the Product to AJU at product supply prices, which includes royalties, for AJU’s sale of the product in the territory.
RBM-007 is currently being evaluated in a phase 2 study in patients with exudative age-related macular degeneration.
“AJU Pharm Co. Ltd. is a South Korea-based comprehensive health care company specializing in ophthalmology. AJU Pharm has been providing innovative health solutions since 1953, with its core business in medicine, medical devices, and food and supplements,” President Kim, Representative Director of AJU Pharmaceuticals, said in the news release. “AJU, with its ophthalmic portfolio further strengthened with the in-licensing of RBM-007, will take the next step toward becoming a globally competitive pharmaceutical company through co-development with Ribomic in Korea and Southeast Asian countries.”